A seafood producer in Hacketts Cove, N.S. fears the impact of a 25% tariff imposed by China on Canadian seafood, effective March 20. The tariffs are a response to Canada's earlier levies on Chinese products. Sam Gao, president of Atlantic Sea Cucumber Ltd., emphasizes the risk to his company dedicated to exporting health-beneficial products, highlighting previous concerns regarding U.S. tariffs. Nova Scotia’s Fisheries Minister Kent Smith mentions a budget set aside for support amidst the looming tariff pressures, although specifics are not yet defined.
The looming introduction of 25 percent Chinese tariffs on Canadian seafood threatens significant harm to businesses, particularly in the already vulnerable seafood sector.
Sam Gao of Atlantic Sea Cucumber Ltd. states, ‘It will totally destroy our business,’ citing fears of market destabilization from Chinese tariffs on seafood products.
Nova Scotia Fisheries Minister Kent Smith emphasized the early stages of support plans, highlighting the uncertainty in responses to the proposed tariffs and ongoing industry discussions.
With potential tariffs affecting over 40 seafood products, the industry worries about competing against firms in countries like Iceland and Norway amidst trade tensions.
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